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Two of the most important corridors for international energy shipments are blocked by Iran and its proxies, oil prices are up and the global economy is reeling.

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nytimes.com | 20 min. ago NEW

Iran Finds Escalation Is a Fruitful Path to Leverage in War With U.S.

#escalation #Iran #oil #shipping route #shipping routes #Tehran #war

Iran and its allies now hold sway over two key oil shipping routes, and Tehran is setting the stage for a diplomatic win that could enhance its stature.

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thehindu.com | 1 hrs. 1 min. ago

700 g of hashish oil seized from interstate bus in Thrissur

#drug trafficking #oil #Police

Youth held during ‘Operation Toofan’ inspection in Peechi; police probe interstate drug trafficking network

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cbsnews.com | 1 hrs. 9 min. ago

Iran-backed Houthis tighten grip on key oil shipping lane

#Export #Houthi #Iran #oil #oil exports #rebels #target

The moves by the Houthis make it easier for the Iran-backed rebels to target ships transiting the crucial Bab el-Mandeb Strait for Saudi Arabian oil exports.

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cbsnews.com | 1 hrs. 51 min. ago

Iran-backed Houthis tighten grip on key oil shipping lane

#Export #Iran #oil #Saudi Arabia #Shipping

The moves by the Houthis make it easier for the Iran-backed rebels to target ships transiting the crucial Bab el-Mandeb Strait for Saudi Arabian oil exports.

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al-monitor.com | 4 hrs. ago

Trump says Iran probably responsible for attack on Saudi pipeline

#crude #Export #Iran #Main #oil #Saudi Arabia #Trump

DUBLIN, Sept 12 (Reuters) - U.S. President Donald Trump said on Saturday that Iran was probably responsible for an aerial attack on Saudi Arabia that shut down its East-West pipeline, one of the kingdom's main routes for exporting crude while bypassing the Strait of Hormuz."I think they are, probably they are," Trump told reporters in Dublin when asked if Iran was responsible for the attack on the vital oil conduit.The U.S. president also said that he had spoken with Saudi Crown Prince Mohammed bin Salman, whom he described as a "good friend."

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bbc.co.uk | 4 hrs. 15 min. ago

Saudi Arabia shuts key oil pipeline after drone attack launched from Iraq

#attack #border #commander #drone #drone attack #investigation #investigations #Iran #Iraq #launch #Military #oil #Pipeline #Saudi Arabia

Iraq removes a military commander and opens investigations into the attack that came from an area bordering Iran.

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koreatimes.co.kr | 4 hrs. 35 min. ago

US stocks jump as oil eases, inflation comes in near expectations

#Brent crude #eastern #Inflation #Iran #Nasdaq #New York #oil #oil price #Oil prices #prices #stock #United States #war

NEW YORK — U.S. stocks are rebounding Friday and clawing back much of their losses for the week after oil prices eased off their recent spurt. An update on inflation across the United States that came in close to economists’ expectations, even if prices are still rising too quickly for everyone's liking, also helped calm the market. The S&P 500 climbed 1 percent and was on track to break a four-day losing streak, its longest since June. The Dow Jones Industrial Average was up 479 points, or 0.9 percent, as of 10:30 a.m. Eastern time, and the Nasdaq composite was 1.2 percent higher. They got help from a pullback in oil prices, which had jumped to their highest levels since May because of the ongoing war with Iran. The price for a barrel of Brent crude, the international standard, fell 2.5 percent to $104.93 after getting near $110 overnight. That took a bit of pressure off inflation, which remains stubbornly high. A report on Friday showed that U.S. consumers had to pay prices for gasoline, food and other costs of living that were 3.4 percent higher last month than a year earlier. Whi

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koreatimes.co.kr | 6 hrs. 10 min. ago

President Lee reassures public over oil prices amid escalating Middle East tensions

#Barrel #CAP #crude #crude oil #Don #energy #Export #export control #Import #loss #media #oil #oil price #R #Saudi Arabia #sea #Swap

President Lee Jae Myung reassured Koreans on Saturday that the government is taking all necessary measures to stabilize oil prices amid a surge in global crude prices caused by escalating tensions in the Middle East. In a post on the social media platform X, Lee highlighted the government's efforts to diversify crude oil imports to reduce the country's reliance on the Middle East, with the region's share of imports falling from about 70 percent to 50 percent. He also cited measures including oil price caps, export controls and a strategic oil reserve swap system. Lee reaffirmed the government's commitment to cracking down on oil hoarding and price collusion, while compensating local refiners for losses stemming from government price stabilization measures. "You don't have to worry about oil prices at all," Lee wrote. The remarks came as disruptions in the Red Sea and the Strait of Hormuz fueled concerns over global energy supplies, pushing oil prices back above $100 per barrel. Adding to the supply concerns, Saudi Arabia shut down its East-West pipeline after the key oil conduit came under

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csmonitor.com | 6 hrs. 55 min. ago

Trump has prioritized oil and minerals. Lower prices haven’t followed.

#energy #Jobs #oil #President #prices #Trump

President Trump says America should take advantage of its natural resources to grow jobs and cut household energy bills. Those goals remain out of reach.

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thehindu.com | 7 hrs. 11 min. ago

India’s newest Maharatna refiner eyes East, Northeast domination after expansion

#commission #expansion #India #oil #refinery

Numaligarh Refinery Limited, a subsidiary of Oil India Limited, plans to commission its 9 MMTPA expansion project by March 2027

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thestar.com | 8 hrs. 17 min. ago

Iraq confirms attacks on Saudi pipeline originated from Iraqi territory and other Mideast news

#attack #government #Iraq #launch #oil #Pipeline

Attacks on a key Saudi oil pipeline were launched from Iraqi territory, said Iraq's government Saturday, pledging to probe further.

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npr.org | 8 hrs. 18 min. ago

Yemen's Houthis capture a Red Sea island in threat to shipping

#Export #Island #oil #R #Saudi Arabia #sea #Shipping #Yemen

Iranian-backed Houthi rebels in Yemen have captured a strategic island in the Bab el-Mandeb Strait. The move threatens Saudi oil exports through a key commercial lane. And Saudi Arabia said it shut down a major oil pipeline as a precaution after it came under attack.

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nytimes.com | 9 hrs. 1 min. ago

[$] As Oil Prices Rise, BRICS Leaders Have What U.S. Doesn’t: Iran at the Table

#BRICS #Iran #leader #Middle East #oil #oil price #Oil prices #prices #war

Even so, finding unity among the loose grouping of emerging economies will be difficult as the war in the Middle East strains their own interests.

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france24.com | 10 hrs. 18 min. ago

Live: Saudi Arabia oil pipeline shut down after drone attack launched from Iraq

#crude #Export #Iraq #oil #Saudi Arabia

Saudi Arabia shut down its crucial Eat-West pipeline after it was attacked on Thursday, threatening an important alternative route for crude exports from the Gulf. Iraq has chosen not to retaliate at this state, its foreign ministry said. Read about the day’s events as they unfolded on our liveblog.

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ft.com | 10 hrs. 59 min. ago

[$] The Ritz-Carlton purge, a $1.3bn demand and nine years trapped in Saudi Arabia

#corruption #Freedom #oil #Saudi Arabia

When Rami Naimi, son of a former Saudi oil minister, was caught up in a corruption crackdown, it was only the start of his ordeal. A decade on, his family is still fighting for his freedom

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livemint.com | 11 hrs. 17 min. ago

US-Iran war: As conflict widens, more waterways become unsafe for oil exports, raising fears of energy crisis

#energy #energy crisis #Export #Iran #oil #Shipping

As tensions escalate in the Middle East with no diplomatic resolution in sight, growing disruptions to key oil-shipping waterways are raising fears of a global energy crisis.

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ft.com | 12 hrs. ago

High oil prices could force ECB to raise rates further, warns top policymaker

#Austria #Bank #central bank #ECB #Inflation #oil #oil price

Austrian central bank governor Martin Kocher says risk of elevated inflation is higher than it was a few months ago

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livemint.com | 13 hrs. 12 min. ago

Petrol and diesel prices today, Sept 12: How much does fuel cost in Delhi, Mumbai, Bengaluru? Check here

#conflict #Delhi #fuel #Iran #Mumbai #oil #oil price #Oil prices #petrol #prices

Oil prices had jumped to their highest levels since May due to the ongoing conflict in Iran. But local prices continue to hold steady

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al-monitor.com | 13 hrs. 26 min. ago

Saudis shut down oil pipeline as Houthis tighten grip on Red Sea shipping

#crude #crude oil #Export #Iraq #oil #R #Saudi Arabia #sea #Shipping

By Mohammed Ghobari, Eman Abouhassira and Yasmine GhaniaADEN/DUBAI, Sept 12 (Reuters) - Saudi Arabia has shut down its East-West pipeline after the vital oil conduitcame under aerial attack in the widening Middle East war.The world’s largest crude oil exporter temporarily closed the pipeline after a drone attack that both Baghdad and Riyadh said had originated in Iraq, where Iranian-backed militias operate. Iraq dismissed a military commander on Saturday in response to the attack.

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#free #independent #curated #NoAds

thehindu.com | 13 hrs. 55 min. ago

Morning digest: India to host BRICS leaders in Delhi today; Saudi Arabia shuts down major oil pipeline amid fighting in Yemen, and more

#BRICS #Delhi #India #leader #oil #Pipeline #Saudi Arabia #Yemen

Here is a select list of stories to start the day

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nytimes.com | 14 hrs. 52 min. ago

[$] Saudis Shut Down Crucial Pipeline After Drone Attack From Iraq

#attack #drone #drone attack #Iraq #Middle East #oil #Pipeline

The news briefly pushed the price of oil to $110 a barrel over heightened fears of widening clashes in the Middle East.

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france24.com | 15 hrs. 32 min. ago

Iran-backed Houthis seize near control of vital Bab el-Mandeb shipping lane

#energy #Export #Iran #Island #oil #R #sea #Shipping #Yemen

Yemen's Iran-aligned Houthi rebels captured the strategic Perim Island in the Bab el-Mandeb Strait, located at the southern entrance to the Red Sea, officials said on Friday. The lightning move opens a new front in the Iran war and threatens energy supplies, especially Saudi oil exports, from passing through one of the world's key shipping lanes.

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nytimes.com | 18 hrs. 1 min. ago

Saudi Oil Exports Face Heightened Threats After Attacks on Pipeline

#Export #oil #R #sea

Ship operators already faced severe risks in navigating the region, and now the danger is higher as Houthi militias assert control in the Red Sea.

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koreatimes.co.kr | 18 hrs. 2 min. ago

Gold climbs on dip-buying, Fed rate hike bets rise after US inflation data

#BET #consumer price index #CPI #Fed #Federal Reserve #Futures #Gold #index #Inflation #interest rate #Interest rate hike #loss #market #oil #oil price #Rate Hike #Volatility

Gold prices firmed over 1 percent on Friday, rebounding from recent losses and finding a short-term floor despite strong U.S. inflation data bolstering expectations of an interest rate hike by the Federal Reserve next week. Spot gold rose 1.2 percent to $4,366.69 per ounce by 11:22 a.m. EDT (1522 GMT). The metal, however, was down about 1.4 percent for the week so far. "Gold is recovering rapidly after a brief dip, as CPI data may be cementing expectations of a Fed rate hike next week. The volatility is somewhat muted, as market had a hike 70 percent priced in," said Tai Wong, an independent metals trader. "Price action here suggests that gold is finding a short-term base after the recent retreat." U.S. gold futures gained 0.1 percent to $4,409.30. Prices fell nearly 2 percent on Thursday after the U.S. Producer Price Index data showed prices increased in line with expectations in August. The Consumer Price Index increased 0.4 percent last month after edging up 0.1 percent in July, the labor department's Bureau of Labor Statistics said on Friday. Oil prices fell on Friday, but remained on c

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axios.com | 18 hrs. 3 min. ago

Record diesel prices stoke food inflation, transportation costs

#Analyst #Diesel #Dollar #earnings #economy #energy #energy prices #food inflation #food prices #Forecast #gasoline #Inflation #Iran #Li #oil #Portfolio #Shipping #Supply Chain #trade #Trump

The record price of diesel threatens to stoke inflation at a time when consumers are already price-sensitive and businesses are reeling from higher costs due to trade tensions. Why it matters: Diesel is a key cost throughout the supply chain, meaning soaring prices could eventually show up in what consumers pay for everything from groceries to household goods.Driving the news: The national average price of a gallon of diesel topped $6 for the first time ever, AAA said Friday, Axios' Ben Berkowitz reports.That's up 60% from a year earlier.Between the lines: Food prices could be among the first places consumers feel the ripple effects, executives said this week.At grocery chain Kroger, which has been trying to keep a lid on prices: "I would expect that the pressure is actually going to mount," CEO Greg Foran said Friday on an earnings call.At pork producer Smithfield Foods: "That impact is beginning to flow through in the second half of the year," CFO Mark Hall said Thursday.At Hormel Foods: "With the Iran war and the spike in diesel costs, that's been something we've had to confront," interim CEO Jeffrey Ettinger said Wednesday.But the effects extend well beyond food.For example, at Newell Brands — whose portfolio includes Rubbermaid, Sharpie and Coleman — the inflationary impacts of energy costs have far exceeded the company's initial estimates."It's either resin, which is obviously dependent on the price of oil, or it is direct transportation costs, i.e., diesel," CFO Mark Erceg said Tuesday.The big picture: Energy prices have spiked since President Trump launched the war with Iran, which prompted the closure of the Strait of Hormuz, a key shipping lane.The latest Energy Information Administration outlook expects retail diesel to average $4.40 a gallon in 2027, up 33 cents, or 8.2%, from its previous forecast of $4.07, Axios' Rebecca Falconer and Ben Geman reported.The average price of unleaded gasoline has also spiked, rising by $1.11 over the last year to $4.30 per gallon as of Friday, according to AAA.By the numbers: 47 of the 50 states have experienced an increase in average diesel prices of more than $2 per gallon over the last year, according to GasBuddy analyst Patrick De Haan.The economy is facing an extra $300 million in diesel costs every 24 hours.California is poised to become the first state with average diesel prices above $8 — with many stations already above $9, according to GasBuddy.The bottom line: Record diesel prices are turning the energy shock into a broader cost shock for businesses and consumers.

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koreatimes.co.kr | 18 hrs. 18 min. ago

Gold climbs on dip-buying, Fed rate hike bets rise after US inflation data

#consumer price index #CPI #Federal Reserve #gold #Inflation #interest rate #interest rate hike #oil #oil price #Oil prices #prices #statistics #US inflation #volatility

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marketwatch.com | 20 hrs. 6 min. ago

The Houthis have opened a new front in the Middle East oil war that’s pushing up prices

#control #crisis #front #Houthi #Middle East #oil #Pipeline #prices #Red Sea #war

A Red Sea crisis deepens as the Saudi East-West pipeline is shut down and the Houthis grab effective control of the strategic Bab al-Mandeb Strait.

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koreatimes.co.kr | 20 hrs. 10 min. ago

US stocks jump as oil eases, inflation comes in near expectations

#Barrel #BIT #crude #Dow Jones #gasoline #Inflation #Iran #loss #market #Nasdaq #oil #oil price #Pullback #stock #stocks #United States

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dailymail.com | 20 hrs. 34 min. ago

Doctor who likened himself to the Suffragettes after he smashed up petrol station during Just Stop Oil protest is suspended AGAIN for showing 'no remorse' for his actions

#law #LAWS #oil #petrol #protest

The Doctor, Patrick Hart, complained he couldn't protest any more because of 'draconian' British laws.

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mirror.co.uk | 21 hrs. 7 min. ago

'Donald Trump faces humiliation in a state that's been Republican for 30 years'

#Donald Trump #oil #red state #Texas #Trump

"Texas?" I hear you say. "The Lone Star State? The home of JR, oil barons and steaks you could take a nap on? Surely there's no way such a deeply red state could be at risk of turning blue." That's what everyone thought, until a few months ago

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thehindu.com | 22 hrs. 20 min. ago

MPC will reassess growth-inflation dynamics at next meeting: RBI Governor

#governor #Inflation #oil #oil price #Oil prices #prices

On inflation, RBI Governor Sanjay Malhotra said the rising crude oil prices will have an impact but it will depend on how much is passed through

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ft.com | 22 hrs. 21 min. ago

UK economy unexpectedly grew 0.4% in July boosted by AI surge

#AI #economy #Inflation #oil #oil price

Resilient start to third quarter comes as surging oil price reignites inflation fears

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livemint.com | 22 hrs. 28 min. ago

Saudi Arabian oil pipeline system struck by projectiles? Satellite images reveal extensive fire damage, says report

#fire #oil #Pipeline #satellite #Saudi Arabia

A major oil pipeline system in Saudi Arabia was reportedly struck by projectiles, with assessments indicating damage to pumping stations. Satellite imagery revealed significant fire damage, raising concerns over the incident.

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ft.com | 22 hrs. 31 min. ago

[$] Directors’ Deals: Shell’s upstream boss takes advantage of valuation uplift

#deal #oil #Shell

The oil major’s acquisition of ARC Resources is expected to improve free cash flow from next year

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ft.com | 22 hrs. 39 min. ago

Directors’ Deals: Shell’s upstream boss takes advantage of valuation uplift

#acquisition #oil

The oil major’s acquisition of ARC Resources is expected to improve free cash flow from next year

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al-monitor.com | 23 hrs. 14 min. ago

Gaza's hospitals and homes struggle to keep generators running as oil shortages bite

#Cairo #crisis #electricity #Gaza #hospital #oil #power

By Nidal al-Mughrabi, Haseeb Alwazeer and Dawoud Abu AlkasCAIRO/GAZA, Sept 10 (Reuters) - As power cuts cascade through one of Gaza's largest functioning hospitals and patients wait for treatment in sweltering wards, medics warn that shortages of engine oil and spare parts are causing generators to seize up, putting lives at risk. The crisis is spreading beyond hospitals, where soaring costs for oil and diesel are making electricity from neighbourhood generators increasingly unaffordable for families that depend on it.

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nytimes.com | 23 hrs. 50 min. ago

Diesel Jumps Above $6 a Gallon, Adding to Inflation Pressure

#fuel #Inflation #Middle East #oil

The price of U.S. diesel fuel hit to a new high over mounting fears that fighting in the Middle East could further threaten oil supplies.

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koreatimes.co.kr | 1 days ago

Iran-backed Houthis seize key island, opening new front in Iran war

#crude #Export #Gas #gas price #Iran #Island #market #oil #R #Saudi Arabia #sea #Shipping #United States #Yemen

CAIRO — Yemen’s Iranian-backed Houthi rebels captured a strategic island at the southern entrance to the Red Sea, two officials said Friday, opening a new front in the Iran war and further threatening Saudi oil exports through one of the world’s key shipping lanes. The Houthis’ biggest territorial gains in years, along the Bab el-Mandeb Strait , could boost Iran’s strategy of driving up world oil and gas prices to pressure the United States. Saudi Arabia struck the airport in the nearby port city of Mokha that the Houthis seized Thursday, a Houthi broadcaster said. There were no reports of damage or deaths. The capture of Mayun , a tiny, barren volcanic island inside the strait also known as Perim, was confirmed by a senior military official with Yemen’s internationally recognized government and by a Houthi official. Both spoke on condition of anonymity because they were not authorized to talk to journalists. Saudi Arabia, the world's largest oil exporter, has increasingly relied on the Red Sea to get its crude to market as an alternative to the Strait of Hormuz, where Iran h

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ft.com | 1 days ago

Warsh under mounting pressure to raise rates as US inflation persists

#Inflation #oil #oil price

Inflation remained stubbornly elevated at 3.4% in August at the end of a week of surging oil prices

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Previous Next

As Iran proxies activate in Yemen and Iraq, Trump’s Mideast morass deepens

Iran Finds Escalation Is a Fruitful Path to Leverage in War With U.S.

700 g of hashish oil seized from interstate bus in Thrissur

Iran-backed Houthis tighten grip on key oil shipping lane

Iran-backed Houthis tighten grip on key oil shipping lane

Trump says Iran probably responsible for attack on Saudi pipeline

Saudi Arabia shuts key oil pipeline after drone attack launched from Iraq

US stocks jump as oil eases, inflation comes in near expectations

President Lee reassures public over oil prices amid escalating Middle East tensions

Trump has prioritized oil and minerals. Lower prices haven’t followed.

India’s newest Maharatna refiner eyes East, Northeast domination after expansion

Iraq confirms attacks on Saudi pipeline originated from Iraqi territory and other Mideast news

Yemen's Houthis capture a Red Sea island in threat to shipping

[$] As Oil Prices Rise, BRICS Leaders Have What U.S. Doesn’t: Iran at the Table

Live: Saudi Arabia oil pipeline shut down after drone attack launched from Iraq

[$] The Ritz-Carlton purge, a $1.3bn demand and nine years trapped in Saudi Arabia

US-Iran war: As conflict widens, more waterways become unsafe for oil exports, raising fears of energy crisis

High oil prices could force ECB to raise rates further, warns top policymaker

Petrol and diesel prices today, Sept 12: How much does fuel cost in Delhi, Mumbai, Bengaluru? Check here

Saudis shut down oil pipeline as Houthis tighten grip on Red Sea shipping

newsmart is free – and should stay that way.

Morning digest: India to host BRICS leaders in Delhi today; Saudi Arabia shuts down major oil pipeline amid fighting in Yemen, and more

[$] Saudis Shut Down Crucial Pipeline After Drone Attack From Iraq

Iran-backed Houthis seize near control of vital Bab el-Mandeb shipping lane

Saudi Oil Exports Face Heightened Threats After Attacks on Pipeline

Gold climbs on dip-buying, Fed rate hike bets rise after US inflation data

Record diesel prices stoke food inflation, transportation costs

Gold climbs on dip-buying, Fed rate hike bets rise after US inflation data

The Houthis have opened a new front in the Middle East oil war that’s pushing up prices

US stocks jump as oil eases, inflation comes in near expectations

Doctor who likened himself to the Suffragettes after he smashed up petrol station during Just Stop Oil protest is suspended AGAIN for showing 'no remorse' for his actions

No data transfer to the USA – fully European AI transcription

'Donald Trump faces humiliation in a state that's been Republican for 30 years'

MPC will reassess growth-inflation dynamics at next meeting: RBI Governor

UK economy unexpectedly grew 0.4% in July boosted by AI surge

Saudi Arabian oil pipeline system struck by projectiles? Satellite images reveal extensive fire damage, says report

[$] Directors’ Deals: Shell’s upstream boss takes advantage of valuation uplift

Directors’ Deals: Shell’s upstream boss takes advantage of valuation uplift

Gaza's hospitals and homes struggle to keep generators running as oil shortages bite

Diesel Jumps Above $6 a Gallon, Adding to Inflation Pressure

Iran-backed Houthis seize key island, opening new front in Iran war

Warsh under mounting pressure to raise rates as US inflation persists